Condos vs. townhomes vs. houses
What's easier to sell these days -- a condo, a townhome or a detached house?
The cheaper something is, the bigger the pool of potential buyers, and usually condos are less expensive than townhouses, which are in turn less pricey than houses. (Not always, of course. The Ritz-Carlton Residences in Baltimore is a condo development. But you know what I mean.)
Price, though, isn't the only consideration. Think supply vs. actual demand. And on that count, houses seem to be winning, if only slightly.
About 1,300 detached homes changes hands in the Baltimore metro area last month, according to Metropolitan Regional Information Systems. At that pace, it would take almost seven and a half months to sell the more than 10,000 on the market.
Townhouses? Just over seven and a half months, with 680 sales vs. 5,167 for-sales.
MRIS throws condos into a category along with coops and units with ground rent (often rowhouses). Homes on the market in that group would take more than eight months to sell at their current pace, with 556 sales vs. 4,616 for-sales.
The multiple-listing service also offers a peek at price trends:
Three-bedroom houses dipped slightly in average price. Three-bedroom townhouses dropped 2 percent on average. The condo/coop/ground rent category, which isn't broken out by bedrooms, declined 4 percent.
And townhouses on either end of the spectrum -- two bedrooms or less, and four bedrooms or more -- were down about 6 percent.Are you buyers out there looking for a house above all else, or does a condo or townhouse appeal?